INSIDER
Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investors
Read full article: Walmart attracts more shoppers seeking to cut spending in Q3, but muted expectations spook investorsWalmart extended its streak of strong quarterly gains heading into the holiday season as its low-prices continue to attract shoppers looking for deals in a tough economic environment.
Walmart's hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is king
Read full article: Walmart's hot sellers? Hand mixers and kitchen tools. In an era of high prices, basic is kingWalmart is reporting strong second-quarter sales results as the retailer’s low-price model continues to attract budget-conscious consumers in a tough economic environment.
Walmart shines in rough retail environment, ratchets up outlook after strong first quarter
Read full article: Walmart shines in rough retail environment, ratchets up outlook after strong first quarterWalmart reported strong first-quarter sales results as the nation’s largest retailer’s low-prices continue to draw budget conscious consumers in a challenging economic environment of stubbornly high inflation.
Hot dogs vs deli meat; rising costs shape choices at Walmart
Read full article: Hot dogs vs deli meat; rising costs shape choices at WalmartWalmart reported better-than-expected second quarter results as more Americans looked to cut costs on groceries at the nation’s largest retailer in the face of surging inflation.
Walmart sales still strong as pandemic eases, stimulus helps
Read full article: Walmart sales still strong as pandemic eases, stimulus helpsWalmart raised its annual earnings forecast on Tuesday after delivering better-than-expected results in the first quarter that showed shoppers, flush with U.S. stimulus payments, splurged on clothing, as well as lawn and garden items.
Walmart raising wages for 425,000 workers
Read full article: Walmart raising wages for 425,000 workersWalmart said its starting wage will stay at $11 an hour. Walmart’s current minimum wage is still above Florida’s minimum wage, which starts at $8.65 an hour. The amendment will raise the state’s minimum wage to $15 an hour by 2026. AdPresident Joe Biden included a $15 federal minimum wage in his $1.9 trillion stimulus proposal last month. The legislation calls for the minimum wage to increase to $15 an hour by 2025.
Video app TikTok leans into e-commerce with Shopify deal
Read full article: Video app TikTok leans into e-commerce with Shopify dealThe popular short-form video app TikTok, still under U.S. government scrutiny for its Chinese ownership, is moving closer to becoming a marketplace for buying stuff. Canadian e-commerce platform Shopify said Tuesday it's made a deal with TikTok enabling merchants to create “shoppable” video ads that drive customers to online stores. The partnership was announced Tuesday amid stalled negotiations for Walmart to buy a 7.5% stake in the video app. Then, video ads will be automatically generated that could show up in a TikTok user’s video feed and drive customers to Shopify for checkout. Walmart and Shopify are on good terms, having teamed up against Amazon in June on a deal that enables Shopify’s small businesses to get listed on Walmart.com.
Employees, investors force companies to act on climate change
Read full article: Employees, investors force companies to act on climate changeThe "Amazon Employees for Climate Justice" collective said in a statement Thursday that while the company's "Climate Pledge" is a win it's not enough. Investors managing assets worth $35 trillion this week urged companies and governments to act with the "utmost urgency" to combat climate change. Why it matters: The appointment comes at an inflection point for both Business Roundtable and Walmart. He committed to "keeping Business Roundtable CEOs at the forefront of constructive public policy debates." Business Roundtable said last month that America's corporations are responsible for improving society by serving all stakeholders ethically, morally and fairly.
US CEOs' new spokesman is from Walmart
Read full article: US CEOs' new spokesman is from WalmartMichael Cary/CNN(CNN) - Walmart CEO Doug McMillon on Thursday was named the incoming chairman of Business Roundtable, the prominent group of 192 chief executives representing corporate America's interests in Washington. McMillon, a Walmart lifer who became the company's chief executive in 2014, will serve a two-year term as Business Roundtable's leader beginning in January. He committed to "keeping Business Roundtable CEOs at the forefront of constructive public policy debates." The appointment of McMillon comes at an inflection point for both Business Roundtable and Walmart, the country's largest retailer and private employer. Last month, Business Roundtable said that America's corporations are responsible for improving society by serving all stakeholders ethically, morally and fairly.
Walmart pulls violent video game displays, but will still sell guns
Read full article: Walmart pulls violent video game displays, but will still sell gunsScott Olson/Getty Images(CNN) - Walmart is taking down displays of violent video games in its stores in the wake of recent shootings. But the company plans to still sell the controversial video games -- and guns. Walmart has previously promoted violent video games in its stores with displays that let customers play the games. Although some public officials, including President Donald Trump, have pointed to violent video games as a cause of the rise in gun violence, numerous studies have found no link between the games and actual violent behavior. Walmart does not sell assault-style rifles, nor does it sell handguns outside of Alaska.
Walmart CEO pledges 'thoughtful' response to El Paso shooting
Read full article: Walmart CEO pledges 'thoughtful' response to El Paso shootingA woman touches a cross at a makeshift memorial for victims outside Walmart, near the scene of a mass shooting on Aug. 3 which left at least 22 people dead, on Aug. 6, 2019, in El Paso, Texas. (CNN) - Walmart CEO Doug McMillon says the company will respond in a "thoughtful and deliberate" way to the recent fatal shootings at its stores. McMillon said he was in El Paso Tuesday meeting with employees and with first responders. He said the store manager in El Paso was leaving the store and ran back in when he heard the shots. "Our store in El Paso is well known as a tight-knit community hub for people in the region, where we serve customers from both sides of the border."